Oracle Project Billing Events

In Oracle Billing Events are used to recognize Revenue and Invoice

You can define as many event types as you need, but you cannot create additional classifications.

Class. Enter a classification for this event type to determine how an event affects the revenue and billing for a particular project. Oracle Projects provides you with the following classifications:

• Automatic. An Automatic classification generates an automatic event for revenue or invoice amounts that may be positive or negative, depending on your implementation of billing extensions.
• Deferred Revenue. A Deferred Revenue classification generates an invoice for the amount of the event, and has no immediate effect on revenue.
• Invoice Reduction. An Invoice Reduction classification reduces the amount of an invoice without affecting revenue. For example, you can use an invoice reduction event to give a discount to a customer on a particular invoice.
• Manual. A Manual classification allows you to enter both a revenue amount and a bill amount. These two amounts can be different. Classify an event type as manual when you need to indicate different revenue and bill amounts.
• Scheduled Payment. A Scheduled Payment classification generates an invoice for the amount of the event. Oracle Projects marks expenditure items on the project being invoiced on a first-in first-out (FIFO) basis up to the amount of the event. When you use this classification, you can show details of an invoice in the Invoice Review window by pressing the Details button. The details do not calculate the bill amount and are never printed on the invoice.
  
  Attention: Events with Scheduled Payment classification can be entered for any project irrespective of whether the Invoice Method is Event. However, when schedule payment events are entered for projects with Invoice Method as Event, the expenditure items are marked with the event number on a first-in-first-out basis (FIFO) when processing the event. If the Invoice Method is other than Event, the schedule payment events are processed as manual events and the underlying expenditure items are not marked with the event number.
• Write-On. A Write-On classification causes revenue to accrue for the amount of the write-on. A Write-On also adds the write-on amount to the subsequent invoice. Revenue and invoice amounts are identical. For example, when your business earns a bonus for completing a project on time or under budget, you can define an event type with the Write-On classification to account for the bonus amount. A write-on causes revenue to accrue and generates an invoice to bill your client for the bonus amount.
• Write-Off. A Write-Off classification reduces revenue by the amount of the write-off.
• Realized Gains: A Realized Gain classification allows you to create an event to support reclassification of realized gains during funding revaluation.
• Realized Loss: A Realized Loss classification allows you to create an event to support reclassification of realized losses during funding revaluation. See Funding Revaluation, Oracle Projects Fundamentals.

The following table describes how each event type classification affects revenue and billing.

Classification	Revenue Effect	Billing Effect
Automatic	Depends on billing extension definition	Depends on billing extension definition
Deferred Revenue	No effect	Bill for amount of event
Invoice Reduction	No effect	Reduce a bill by amount of event
Manual	Accrue amount of event	Bill for amount of event
Scheduled Payment	No effect	Bill for amount of event, FIFO
Write-Off	Reduce by amount of event	No effect
Realized Gains	Increase by amount of event	No effect
Realized Losses	Decrease by amount of event	No effect

Tax Classification Code. Optionally, click Tax Classification Code to select the tax classification code for customer invoice lines created for this event type and operating unit. Oracle Projects uses this as the default tax classification code based on the Application Tax Options hierarchy that you define in Oracle E-Business Tax for the Oracle Projects application and the project's operating unit. For more information on setting up tax classification codes and the hierarchy of application tax options,